Konica Minolta, Inc. (KNCAY.PK), parent company of Konica Minolta Business Solutions U.S.A., Inc., Monday announced that it has signed a memorandum of understanding with Fujifilm Holdings Corp. (FUJIY.PK).
Under the agreement, a feasibility study for a strategic alliance in the multifunction printer, office printer, and production printer segments will be conducted, along with the exploration of a potential joint venture, which is expected to be completed in the second-quarter.
The joint venture to be majorly owned by Fujifilm, will coordinate the procurement of raw materials and parts, the company stated.
Currently, Konica's stock is moving up 3.04 percent, to $7.11 on the Other OTC.
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